Innovation and Commercialisation Strategies: A Samsung Report

This report delves into the concepts of innovation and commercialisation, using Samsung as a case study. It differentiates between innovation and invention, highlighting the importance of innovation for organizations. The report examines how organizational vision, leadership, culture, and teamwork shape innovation and commercialisation within Samsung. It explores the 4 Ps of innovation (Paradigm, Product, Process, Position) and the use of the innovation funnel. Furthermore, it discusses frugal innovation, providing examples of its application. The report also evaluates tools organizations use to develop, retain, and protect knowledge and intellectual property, such as copyrights, patents, and trademarks. Overall, the report provides a comprehensive analysis of Samsung's approach to innovation and commercialisation, offering insights into its strategies and practices.

Innovation
and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Explain innovation and determine its importance to organizations in comparison with
invention.................................................................................................................................3
P2 Explain how organizational vision, leadership, culture and teamwork can shape innovation
and commercialization............................................................................................................4
TASK 2............................................................................................................................................6
P3 Explain the 4 Ps of innovation and explain the use of the innovation funnel to examine and
shape innovative ideas............................................................................................................6
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organizational context............................................................................................................7
TASK 3............................................................................................................................................8
Covered in PPT.......................................................................................................................8
TASK 4............................................................................................................................................8
P7 Evaluate the different tools that organizations can use to develop, retain and protect
knowledge and intellectual property......................................................................................8
CONCLUSION ...............................................................................................................................9
REFRENCES.................................................................................................................................10

INTRODUCTION
In today's time almost every company has to go deal with different type of requirement
and demand of customers, for that it is essential for them to consider innovation and
commercialisation. Innovation is define as changing procedure that is adopted by a company in
order to develop more innovative products, services and process. Moreover, commercialisation is
define as procedure which help company in introducing a new innovate products, process and
services at a potential marketplace (Carayannis, Cherepovitsyn and Ilinova, 2016). Organisation
selected for report is Samsung which is a conglomerate company founded by Lee Byung Chul in
the year 1938. Its headquarter is situated at Seoul, South Korea and they offer they wide range of
products at worldwide level. Topics going to explained in this report are information related to
innovation, difference between invention and innovating, type of innovation, process that
company adopt for commercialise innovation. It will also include information about the method
use for protecting ideas with their advantages and disadvantages.
TASK 1
P1 Explain innovation and determine its importance to organizations in comparison with
invention.
Innovation- It is define as process which help an organization in bringing new as well as
innovative products or services that lead to succession of business at marketplace. A firm can
adopt various innovation drivers that help them in implementing innovation process such as
intellectualize, thinking, courage to take risk and so on. Example of innovation is L'Oreal's
products range.
Invention- This is define as a process which help a firm in actualizing new and innovative idea
or process into the action, it is also consider as secondary step of procedure of inventing new
services or products (Hau, 2016). By adopting this, an organization able to bring invention that
lead to shaping of market and attainment of objective. Example of invention is printing press,
telephone, light bulb.
Difference Between Innovation and invention
Basis Innovation Invention
Requirement of skills For adopting innovation For intervention it is essential

person required several skills
such as marketing, strategic
and technical skills.
that person should have
scientific skills.
When it take place It will consider when a
company need requirement for
improving product and
services.
It will generally take place
when new idea strikes at
scientist mind.
Activities This will spread across the
whole organisation (Henttonen
and Lehtimäki, 2017).
This is limited to the research
and development department
of a firm.
Concerned long with The respective process is
concern with combination of
number of products, services
and process.
It will only concern with single
products, services or procedure
of a company.
Importance of innovation in comparison to invention at Samsung
Innovation is defined as a ability to invent new idea or process for developing new
products and services as well as invention referred to the procedure that lead to actualizing the
whole idea of innovation into the action. Samsung is the conglomerate firm which offer number
of products range such as apparel, electronic, automotive chemicals, telecommunication
equipment, home appliances, medical equipment and so on. There are various innovation and
invention which are conducted by respective company. For example innovation of Samsung are
Samsung Galaxy S launched in 2010 which have AMOLED display, Samsung Knox launched in
2013 is leading mobile security solution and so on (10 for 10: Highlights from a Decade of
Galaxy Innovation, 2019). On the other hand invention by respective company is Television
which can be blend into the wall (A TV That Blends Into the Wall. 2019)
P2 Explain how organizational vision, leadership, culture and teamwork can shape innovation
and commercialization.
Innovation is defined as a procedure in which translation of new idea or invention is done
for developing products and services that help in creating value which will paid by customers at
potential marketplace (Hossain and Kauranen, 2016). On the other hand commercialization

refers to process through which a company introduce new and innovative products at
marketplace. This will include whole procedure which is starting from laboratory and end at
commerce. There are various factors which impact on innovation and commercialization of
Samsung, from which some major are mentioned below:-
 Organization Vision: It is define as target which a company desire to achieve. This will
help in creating local opportunities, impact and growth at each and every community as
well as nation around the world. In respect of Samsung their long term vision is to inspire
world through their innovative technology, products ans design which enrich individual
leaving style that contributes to social goodness by developing a new advance future. By
develop such long term vision company able to conduct innovation and
commercialization in more successful and effective manner.
 Organization Culture: It is define as values, attitude and norms of staff which are
preserver and followed by a company from long time duration which help them in
conducting smooth functioning. Samsung develop or mold their organization culture
according to nation at which they are operating due to which employees feel motivated
and conduct work effectively (Ke and et.al., 2016). Moreover, it is culture of respective
firm that they value their peoples, changes, co prosperity, integrity and excellence. By
this culture employees feel motivated which encourage them to conduct innovation and
commercialization.
 Teamwork: It is define as process in which all team member of a company provide their
full efforts for accomplishing a particular work successfully. Through this a work can be
done in more effective way because every person provide use their skills, knowledge and
ability to conduct work effectively (Koirala and et.al., 2016). In respect of Samsung, they
believe in teamwork and according to that they develop team for conducting particular
work which leads to attainment of effective innovation and commercialization.
These are some of the main factors which impact on innovation as well as
commercialization of Samsung. This will also help them in developing more unique and
innovative products which attract customers and lead to gaining high competitive advantages at
potential marketplace.

TASK 2
P3 Explain the 4 Ps of innovation and explain the use of the innovation funnel to examine and
shape innovative ideas.
Innovation refers to the procedure which is adopted by a company in order to develop
new ideas or thinking, process, new product or services. For this a company may adopt several
theories or model, in respect of Samsung they can adopt 4 P's of innovation whose explanation is
given below:-
 Paradigm: It is define as plan process at which Samsung faced several changes at the
time of implementing innovation or change at workplace (Kuratko and Hoskinson, 2016).
For example- less time, budget, employees acceptance, decline of plan or strategy and so
on.
 Product: This is consider as main offering of a company in order to attract customers. It
is necessary for respective company manager to develop most effective decision so that
they able to develop appropriate products with innovative technology.
 Process: This is defined as a process through which Samsung provide their wide range of
products to their customers. So it is essential for respective company to develop proper
delivering process which must not be too long because it will directly impact on
customers demand.
 Position: It is define as process through which Samsung want to attain particular position
at the marketplace. For this respective company management need to develop proper
strategies related to the adopting innovation and commercialization.
Along with this for adopting innovation Samsung may also adopt innovation funnel in
order to examine as well as shape innovation ideas effectively. Innovation Funnel is define as
mechanism which can be modify a invariant stream of ideas or thinking which can be screened
for the viability. This will also known as Funnel Management Process that is adopted by a
company in order to adopt innovation (Paradkar, Knight and Hansen, 2015). In respect of
Samsung, by adopting innovation funnel they able to adopt more effective and appropriate
strategy which help them in gaining competitive advancement at marketplace. By adopting
innovation funnel respective firm able to select approached strategy for products development
from the huge options because in this step by step unnecessary option get reduced or filter and at
last most effective one left.

P4 Explain developments in frugal innovation and provide examples of how it is used in an
organizational context.
Frugal innovation is also known as frugal engineering, this is consider as a process which
help a company in reducing or minimizing complexity and cost of manufacturing and products or
services. This is generally adopted by those organization which produce durable products such as
mobile phone, car, bike and so on for sell products in the growing market or nation (Rasmussen
and Eliason, 2017). In order to adopt this frugal innovation for launching Sterilizer, Samsung
may adopt process which is mentioned below:- Problem: Problem which respective company may adopt while developing Sterilizer that
is used to clean baby's bottle will be identified at this stage.
 Related to product: At this stage manager will identify marketing issues which they
faced while commercialising the products. This is so because other competitive company
is also producing same kind of products so respective company need to conduct it more
effectively.
Along with this, there are several other stage which can be adopted by Samsung in order
to resolve issues and leads to frugal innovation:- Generating idea of innovation: In this stage Samsung management will develop
innovative idea which can be adopted for promoting Sterilizer more effectively at huge
range. Screening new idea: In this respective company management will conduct appropriate
planning through which they can promotive new product i.e. Sterilizer in more effectively
and successfully (Walsh, Lee and Nagaoka, 2016). Idea screening: At this stage management of Samsung will conduct screening of
Sterilizer through which they able to products effectiveness and reliability. Testing: At respective stage testing will be conducted in order to identify or estimate
result of Sterilizer. Internal analysis: In this management will conduct analysis of internal assets in order to
evaluate resources and manpower which help them in developing or manufacturing
Sterilizer successfully.

 Review marketplace: At this stage management of respective company will conduct
market analysis in order to know feedback as well as suggestion from the potential
customers regarding the Sterilizer.
By adopting or implementing all these stages of frugal innovation process management of
Samsung able to launch Sterilizer in effective manner because it will eliminate all the negative
impact from the procedure.
TASK 3
Covered in PPT
TASK 4
P7 Evaluate the different tools that organizations can use to develop, retain and protect
knowledge and intellectual property.
For an organisation it is necessary to prevent their knowledge and intellectual property
from any wrongful activities such as no one can copy product and launch with their name. In
order to this there are number of policies and laws developed by government for organisation to
protect their data (Wang and et.al., 2017). From which some major of them which can be
adopted by Samsung for preventing their new product i.e. Sterilizer from fraudulent activities are
given below:-
 Copyrights – This refers to legal term that will describe about the authorisation or rights
of developer in order to protect their original product such as music, book, machine,
technology and so on. In respect of Samsung by adopting copyright they able to get
ensure that their new launched product i.e. Sterilizer is their right and no one can use
particular design or method or sale it with their name (Weng and et.al., 2017). This will
also help respective company in gaining competitive advancement at the potential
marketplace.
 Trade secrets – It is define as method which will concern with secret information of
commercialized values. In this tool there are several aspect which are not consider such
as contract law, employment law and many others. In respect of Samsung Company and
their innovative product i.e. Sterilizer this tool is not effective because it will not prevent
the method or system from any type of risk.

 Patent – This tool of protecting information or system which provide right to the owner
of organisation or products that their product is safe from any kind of the exploitation. If
a company or producer want to sale their product then they have to provide patent to
particular person which will insure that it will not being misused (Wengand et.al., 2018).
In respect of respective company if they want to sale their product through other then
they have to provide patent to them.
By adopting all these legal tools Samsung able to protect their informations related to
Sterilizer in effective manner. Through this they can ensure that its technology and other
informations related to respective product will be safe.
CONCLUSION
By conducting analysis of above discussed point it can be determine or summarise that
for every company it is necessary to adopt innovation and commercialization in order to develop
new products and services, then commercialized it in effective manner so that customers get
attracted toward it. Through effective innovation and commercialization a company able to gain
high competitive advancement at their potential marketplace. During developing strategies for
new products and services then management may adopt innovation or invention. Along with this
there are several factors which contributes to shaping innovation and commercialization such as
organisation vision, leadership, culture and teamwork. For this they may also adopt 4 P's of
innovation i.e. paradigm, product or service, process and position as well as they may also adopt
innovation funnel for it because through it management may shape innovative idea. In order to
conduct commercialization of innovation an organisation can also implement commercial funnel
and new product development process. They may also build innovative business case through
which they can access funding which help in developing innovative products and services. In
addition to this there are several tools which can use by a firm in order to develop, retain and
protect intellectual property as well as knowledge.

REFRENCES
Books and journals
Carayannis, E.G., Cherepovitsyn, A.Y. and Ilinova, A.A., 2016. Technology commercialization
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strategies for commercialization in technology-intensive companies in forestry
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Hossain, M. and Kauranen, I., 2016. Open innovation in SMEs: a systematic literature
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ideas devoid of resources and capabilities?. Technovation. 41. pp.1-10.
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Online
10 for 10: Highlights from a Decade of Galaxy Innovation. 2019. [Online]. Available
through:<https://news.samsung.com/global/10-for-10-highlights-from-a-decade-of-
galaxy-innovation>.
A TV That Blends Into the Wall. 2019. [Online]. Available
through:<https://time.com/collection/best-inventions-2018/5454290/boosted-mini/>.